Ratnaveer Precision IPO's Shares Allotment Likely Today; Check Application Status, Latest GMP

IPO Updates: The allotment of equity shares of Ratnaveer Precision Engineering's Rs 165.03 crore initial public offering (IPO) is likely to be carried out on Monday. There are many mediums to check Ratnaveer IPO allotment status such as through the registrar of the public offer, bank account, Demat account and on stock exchanges. The IPO received robust demand from qualified institutional and non-institutional investors, leading to an oversubscription of a whopping 93.99 times.

The proposed equity shares of the IPO will be listed on BSE and NSE.

GMP:

On Monday, the grey market premium (GMP) of the IPO stood at Rs 52 per share. As per TopsShareBrokers, with price band of 98.00, Ratnaveer Precision Engineering IPO's estimated listing price is ₹150 (cap price + today's GMP). The expected percentage gain/loss per share is 53.06%.

Here's how to check the allotment status of Ratnaveer Precision Engineering IPO on various portals:

1. Link Intime Allotment Page:

Step 1: Visit Link Intime IPO Allotment Page (https://linkintime.co.in/MIPO/Ipoallotment.html)

Step 2: Select the option of personal identification to proceed further to select the IPO name. These can be a Permanent Account Number (PAN) card, Aadhaar card, or DP ID options.

Step 3: After doing so, click on the drop-down menu bar to select the IPO name. Select 'Ratnaveer Precision Engineering'.

Step 4: Feed the details of PAN, Aadhaar, or DP ID as per your selection.

Step 5: Click on the 'Search' button lastly to proceed to check your allotment status on the screen.

BSE:

Step 1: Under the investors' section of the BSE website, click on 'Status of Issue Application'. Here is the link: https://www.bseindia.com/investors/appli_check.aspx

Step 2: Select the issue type either Equity or Debt

Step 3: Select the IPO name 'Ratnaveer Precision Engineering' from the drop-down menu on the Issue Name.

Step 4: Feed in the details of either Application No. or PAN card.

Step 5: Select the captcha mode and then click on 'Search'. You get to know your allotment status accordingly.

NSE:

- Exchange will also provide Allotment information as provided by the registrar to the issue. Click here to log in (https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids)

- To avail of this facility, the investor has to register one time by providing the PAN details.

- The user shall be able to view the details of the bids entered against the registered PAN number

- On registration, the investor will receive an email notification from NSE on the registered email address providing the login details.

Demat Account:

- Another method to check your application status for Ratnaveer Precision Engineering IPO could be your demat account. You can call your broker, or log into your trading account for this.

- If your application is approved and Ratnaveer Precision Engineering shares are credited then it should reflect in your Demat account.

Bank Account:

- To check your application status, investors need to log in to their bank account from which they have applied for the Ratnaveer Precision Engineering IPO.

- After logging in, you need to check your balance statement. - If an investor has received the allotment, then the amount will be debited from your account. If not, then the amount will be credited.

- Also, as per IPO Watch, if you got the allotment you should have gotten an SMS "Dear Customer, Bank Name Account 00001 is debited with INR 00000.00 on Date. Info: IPOName. The Available Balance is INR 000000."

Listing:

After the allotment of equity shares, the refunds are likely to be initiated on September 12, and shares are expected to be credited to demat accounts on September 13. As per Chittorgarh, the listing is expected on September 14.

IPO subscriptions:

On the final day, the IPO oversubscribed 93.99 times. The portion of Qualified Institutional Buyers (QIBs) subscribed 133.05 times, the Non-Institutional Investors (NII) portion subscribed 135.21 times, and lastly, the Retail Individual Investors (RIIs) portion subscribed 54.01 times.

The IPO which was launched from September 4th to 6th, comprised fresh issues worth Rs 135.24 crore and offers for sale up to Rs 29.79 crore. The price band of the IPO at the lower end stood at Rs 93 per equity share and the upper price band was at Rs 98 per equity share.

Unistone Capital is the book-running lead manager for the IPO, while Link Intime India is the registrar of the issue.

The proceeds of the fresh issue will be utilised for funding working capital requirements and general corporate purposes. The proceeds of OFS will be transferred to selling shareholder Vijay Ramanlal Sanghavi who is the promoter of the company.

Founded in 2000, Ratnaveer Precision Engineering is a stainless steel ("SS") product manufacturer focused on producing finished sheets, washers, solar roofing hooks, pipes and tubes. The company operates four manufacturing units, out of which two (Unit-I and Unit-II) are located at GIDC, Savli, Vadodara, Gujarat, one (Unit-III) is located at Waghodia, Vadodara, Gujarat and the other one (Unit-IV) is located at GIDC, Vatva, Ahmedabad, Gujarat.